Roundhill Memory ETF Passes $25B And Overtakes South Korea Fund EWY

The Roundhill Memory ETF has surpassed $25 billion in assets less than four months after launch, overtaking the iShares MSCI South Korea ETF as investor demand concentrates around memory-chip stocks.

DRAM began trading on April 2 as the first U.S.-listed ETF focused exclusively on memory and data-storage companies. The fund pulled in nearly $10 billion during June, lifting assets to $25.53 billion at month-end. Net inflows reached almost $20 billion through June and moved above $21 billion in early July.

The iShares MSCI South Korea ETF held approximately $21.85 billion in net assets on July 10. EWY launched in May 2000 and had served as one of the most liquid U.S.-listed routes into Samsung Electronics, SK Hynix and the wider South Korean equity market.

DRAM traded at $63.04 on Friday after gaining 166% between its April debut and the end of June. EWY closed at $183.52 and remained up more than 85% in 2026 despite falling behind the younger fund in total assets.

Investors Shift From Korea Exposure To Memory Stocks

EWY had attracted roughly $6 billion during 2026 before DRAM entered the market. The South Korea fund then recorded about $2 billion in outflows as DRAM absorbed approximately $22 billion in new capital.

The two portfolios retain about 46% overlap in underlying holdings, with Samsung and SK Hynix driving much of the shared exposure. DRAM removes most of EWY’s banks, automakers, internet companies and industrial groups, replacing the single-country structure with a concentrated global memory portfolio.

Roundhill’s fund also holds Micron Technology, SanDisk, Kioxia, Western Digital and other storage companies positioned around high-bandwidth memory, DRAM, NAND flash and data-center demand. The actively managed fund charges a 0.65% annual expense ratio.

The asset surge follows a historic rally across the sector. Micron briefly reached a $1 trillion market value, while Nvidia and SK Hynix signed a multiyear AI memory partnership covering next-generation high-bandwidth memory supply.

Three Chipmakers Dominate The Fund

Micron, Samsung and SK Hynix accounted for roughly three-quarters of DRAM’s portfolio earlier in the quarter, leaving the fund closely tied to pricing and capacity decisions across three manufacturers.

That concentration has produced sharp moves in both directions. Samsung and SK Hynix each fell more than 12% during the South Korean market halt in June before memory stocks resumed their advance.